According to Blockworks, Uniswap Labs has generated $764,000 in revenue since introducing fees on some trades two weeks ago. Other DeFi platforms, such as Osmosis, Blur, and Hashflow, have also received proposals to implement trading fees. The growing interest in fees indicates a shift in DeFi's focus towards revenue generation, suggesting a maturation of the industry. However, some argue that fees may be impractical when trading platforms can be easily duplicated.

Last month, Uniswap Labs began charging fees on trades involving specific asset pairs through its interface. These fees are in addition to the existing fees taken by Uniswap liquidity providers (LPs) and are expected to generate tens of millions annually for the company. However, only 3% of Uniswap's total trading volume is subject to the 0.15% fee. A protocol-level fee proposal from GFX Labs, which would tax LPs on almost all trades, stalled earlier this year. An amended version of the proposal could reach Uniswap's forums by December.

Decentralized exchange Hashflow implemented its own protocol-level trading fee after a governance vote approved the update. Hashflow CEO Varun Kumar believes the move may be a symptom of fee FOMO in DeFi, with a growing interest in enabling trading fees and a general sense that protocols should be generating revenue. In previous crypto market cycles, investors considered compelling white papers or functional but unprofitable products sufficient. Now, the focus has shifted to actual revenue generation for these protocols. However, not everyone in the DeFi space is convinced about fees. Superposition, a zero-fee automated market maker (AMM) built on Arbitrum, believes that the protocol can generate revenue without trading fees if it scales up enough. With open-source code being common in DeFi, trading fees could lead to spin-off projects.